Chart wise:
YTL Power International Bhd (stock code 6742) Infrastructure–RM1.66
YTL Power appears to be recovering from a prolonged downtrend formation. The technical indicators have also hooked up in anticipation of furt her gains while the short-term 5 day moving averages have also turned up to provide a trailing support line for the share price.
Having bottomed out at RM1.53 to turn the corner, YTL Power had recovered in the past few trading days. Going forward, the first target is at RM1.70. On the downside, the first line of support is at RM1.58 along the 5-day moving averages, failing which the RM1.50 will provide the next defense line.
above: YTP Power Daily chart.
by Mercury Securities
